time horizon - is schweser wrong?

Book 7 Question 3 (Exam 1) Terry has 8 years left until retirement. I put down time horizon is short but Schweser says the time horizon is long (8 years until retirement and 15+ years in post retirement). Is Schweser wrong? I thought the time horizon is time you have until you start drawing money from the portfolio.

yes, there was a mix up … got me confused … I just completed this paper this morning … it was an oddly laid out paper. so far, i believe they had not revised the answer format like they did for book 6, which I actually enjoyed the AM sections. I have not done the last 2 AM yet, so I may be wrong on that point.

can’t you just state the actual number of years rather than saying short, medium, or long?

sounds like a pretty clear two stage, long term horizon - - retirement is part of the horizon - - for individuals i think it will almost always be long term unless we’re talking about an 85 year old person - - and they won’t put that case - too depressing to anticipate death and yes, think you can just use years to move away from subjective component of short/long

it’s not long term because you will need the liquidity from the portfolio in 8 years.

Yes, you need liquidity in 8 years, but you don’t need the whole portfolio on Day 1.

horizons for individuals are until they no longer need money, i.e., death - - CFAI calls that something can’t remember - - not when they start drawing; someone in their 50s is def a long-term horizon - - unless the vignette states that they have been diagnosed with an aggressive, non-curable form of something - - not gonna happen on the test